Comfort Systems USA Inc (FIX)
Debt-to-capital ratio
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 39,345 | 33,932 | 133,945 | 197,761 | 247,245 | 378,192 | 403,192 | 412,079 | 385,242 | 266,772 | 156,272 | 171,752 | 235,733 | 222,213 | 231,442 | 333,113 | 205,318 | 228,167 | 284,667 | 74,483 |
| Total stockholders’ equity | US$ in thousands | 1,277,830 | 1,207,160 | 1,111,460 | 1,053,490 | 999,923 | 951,132 | 896,845 | 878,408 | 805,666 | 771,789 | 752,012 | 723,103 | 696,429 | 668,126 | 628,433 | 593,043 | 585,304 | 557,630 | 532,088 | 515,195 |
| Debt-to-capital ratio | 0.03 | 0.03 | 0.11 | 0.16 | 0.20 | 0.28 | 0.31 | 0.32 | 0.32 | 0.26 | 0.17 | 0.19 | 0.25 | 0.25 | 0.27 | 0.36 | 0.26 | 0.29 | 0.35 | 0.13 |
December 31, 2023 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $39,345K ÷ ($39,345K + $1,277,830K)
= 0.03
The debt-to-capital ratio of Comfort Systems USA, Inc. has been decreasing over the past eight quarters, indicating a strengthening financial position in terms of debt management. The ratio has decreased from 0.32 in Q1 2022 to 0.03 in Q4 2023. This steady decline suggests that the company has been reducing its reliance on debt financing relative to its total capital structure. Overall, the trend indicates that Comfort Systems USA, Inc. has been effectively managing its debt levels, which may lead to lower financial risk and improved financial stability in the long run.
Peer comparison
Dec 31, 2023